PBoC to provide 300 billion yuan to SMEs

State Council calls on central bank to step in as Delta variant shows signs of denting growth

People’s Bank of China
People’s Bank of China

The People’s Bank of China (PBoC) will offer loans worth 300 billion yuan ($46.5 billion) to struggling small enterprises, as the country grapples with a resurgence of Covid-19.  

It is the first time the central bank will inject liquidity under a lending scheme designated for micro, small and medium enterprises (SMEs) since last April.

China will support small businesses as many are yet to recover from the pandemic, the State Council, China’s top administrative body, said on September 1 after

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